kaperoni: Your going to love this! Let’s get started…
kaperoni: New banknotes to be introduced in September:Iraqi Parliament to introduce the new banknotes in September 2012
kaperoni: "According to the agreements, the new bill will be printed by a European company and introduced to the market gradually and in a well-planned schedule to ensure it will not result in shocks and would not have a negative impact on the market," explained MP Khalil. He added the exchange rate between the new banknotes and the old ones would be 1:1,000.”
kaperoni: This is an extremely powerful statement.
kaperoni: I was thinking about this today…1:1000.
kaperoni: Let me tell you exactly what they are saying here. This is telling us no LOP or re-denomination is going to happen. Because they are telling you the difference between the “old and new banknotes”.
In order for this to be true, the notes have to be honored at the printed face value. If, for example, a LOP or re-denomination occurred (changing the value), they would state the exchange rate between the new and old notes would be 1:1, meaning they now have the same value or a neutral event. But that is not the case. They are clearly stating 1:1000.
Read More Link on Right
kaperoni: Next quote…
kaperoni: “The objective behind this move is to appreciate the value of the Iraqi dinar against the U.S. dollar, which would in turn increase the balance of the Iraqi dinar and there would be sufficient reserves of that currency," explained MP Khalil. “
kaperoni: Clearly. this statement confirms what I just stated...that the dinar is
appreciating (RV). This is confirmation of the revaluation!
kaperoni: Next article….
kaperoni: Financial expert: dinar was equal to the dollar
over the next two years, thanks to the policy of the Central Bank
kaperoni: “The Central Bank earlier announced that the near-level policy work to stabilize the dinar to US dollar while at the intermediate level and leveling will near dinar against the dollar.”
kaperoni: This is another great quote…we get a few “keys” here. 1. The rate will
be near the dollar. 2. The CBI calls this the “intermediate level,”clearly
implying there will be another level. There is no specific timeframe mentioned
for that higher level.
kaperoni: Next article…
kaperoni: Raisezeros from the Iraqi currency at a seminar center Mustansiriya
kaperoni: This Symposium just occurred on February 27th . That was just 9 days ago.
kaperoni: “the issue of maintaining the value of the currency after rename (lifting of the zeroes),”
kaperoni: I love this quote. They realize the “delete 3 zeros” is also confusing to the Iraqi people, so they refer to this event now as “lifting of the zeros”. Huge difference and confirms what we been saying all along. That this event is merely a transition, a collection of larger notes, rate change, and new lower notes. Next quote…
kaperoni: “…as well as its role in enhancing the confidence of the citizen
and investor in the national economy, especially with the continued
effectiveness monetary policy to control inflation within acceptable levels, as
well as the stability of the exchange rate of the Iraqi dinar.”
This quote tells us more of the plan…that this event will encourage Iraqi’s to
use the dinar, the investor to participate in the economy, but more importantly,
it gives the CBI the tools to continue the “effectiveness” of the monetary
policy and “control” inflation. Clearly, Shabibi’s policy has been effective and
kaperoni: Next quote…
kaperoni: “At the end of his speech made by Dr. Rawi audience with astonishment when I get out of his bag transparent portfolio contains several versions of the coin of the Iraqi dinar category…”
kaperoni: Well this tells us they have coins ready. Or at
least samples to show. My thought is they have them ready to come out.
kaperoni: Last quote is a longer one…
kaperoni: “The positive effects of other process of change and delete the zeros referred to by the researcher is to end the phenomenon (dollarization) in the daily dealings,The researcher concluded the preparation of the Iraqi Central Bank's strategy long-term viable future, when the availability of the appropriate opportunity and gradually according to clear instructions and regulations, guidelines provide protection for the rights and interests in line and the stage of prosperity coming and expected economic growth; to increase the average per capita income in the coming years to more than once , in addition to what it takes to progress from the Iraqi economy, steps to repair the waste stages of inflation, in particular the issuance of some legislation in this regard.”
kaperoni: I will break this down into 3 parts…
kaperoni: This “lifting of the zeros” will have a “positive effect” and will end the problem with “dollarization”. That simply means the rate has to be over 1 to 1. Again, as mentioned above, it supports just over 1 to 1 (1.17 to $1). There is no arguing about a .10 cent rate. Or even a .25 cent rate. This statement tells you clearly that just 10 days ago they told the Iraqi people it will end the issue with dollarization.
kaperoni: The next part of that statement is also amazing…they are telling the
Iraqi people this event (stage) will bring “prosperity” and “economic growth.”
kaperoni: You also see they mention the overall result will be the Iraqi economy, fix inflation issues, etc.
kaperoni: Very forthcoming, very direct...
kaperoni: Great stuff and very telling information. We're very close to this event happening.